/*********************************************** * Accordion Content script- (c) Dynamic Drive DHTML code library (www.dynamicdrive.com) * Visit http://www.dynamicDrive.com for hundreds of DHTML scripts * This notice must stay intact for legal use ***********************************************/
Barry's Accounting Services, Corp.
1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
(718) 677-4006
E-mail:
clembarry@aol.com
 
 
Client Update - quarterly newsletter
 
   

Entertainment Tax Accountant, Financial Advisor, Business Manager - Barry's Accounting Services - Brooklyn, NY

 

 

Touring and In-residence Artists and DJ's.

Entertainment/Performance Industry

This year 2021, the New Federal Administration will increase Corporation Tax Rate from 21% to 28%; and Foreign Profits Tax Rate to 21%. Individual Tax Rate will increase up to 39.6%. Be Preapred!!). Lets get to the specifics!!

 

Services we provide for Touring 

and In-residence Artists and DJ's.

 

Artists and DJ's we want as clients.

#1)

Artists and DJ's  who are signed to a Major or Independent record company or record label (Universal, Warner, Sony, Columbia, Atlantic, Capitol, or your own Independent Label.) and are planning concert tours in cities in the USA, Europe, Asia, etc:-

We understand the Entertainment Industry and the complexities that are associated with Tour Expenses, Promotion Costs, Royalty Tracking, Overseas earnings, VAT, International tax treaties, etc. We will put together a Budget, Forecast, Taxation plan, and an effective, strategic and execution plan that will always let you know where you stand with Cash-Flow, Working Capital and Profitability. We will ensure your tour is FINANCIALLY successful. We will save you Millions of dollars in non-essential/unnecessary expenses and taxes and make the net-worth of those on the Fortune-100 list look like pocket change/tips money; while you keep a busy and lucrative performance schedule of 50 shows/cities in 60-days. You are On-A-Roll; and you are entertaining your super-fans with a medley of sing-along hit-songs from your multi-platinum catalogue; and bedazzling the mediacross-over fans, advertisers, and sponsors with Back-to-Back monster hits from your grammy winning albums and your legendary on stage  theatrical performances; making each show/event an extravaganza, a masterpiece, and a commercial sensation, with stratospheric success accross the world.

***NOTE:- DON'T Pay us. Give us CREDIT on your new album that is just about to be released. We are taking the risk with you. We are in your corner. You have a lot of work to get done. Lets start today!!

#2)

In-residence Artists and DJ's who have a contract with/from a Casino or Hotel/Resort:-

If you didn't file your tax returns, the IRS and States can come after you FOREVER for failure to file because you don't have a Statute-of-Limitation. You are responsible for filing and paying your taxes on time even if your management company or booking agency has promissed to do it for you. Ask those Artists, Actors, Actresses, Baseball players, and DJ's who have had tax problems with the IRS and States.Let's start today!!

#3)

Artists and  DJ's who want to resolve U.S. or Foreign Tax problems:-

Interests and Penalties for taxes owed are HOT. Settle your tax bills before those Interest and Penalties burn a BIG hole in your bank account. However, some of those interest and penalties can be completely forgiven. Filing for bankruptcy will damage your credit rating and wouldn't erase/wipe-out your tax debts; and the IRS and State will put a LIEN against your property and sell them at auction. If you have a mortgage on your property, the bank will be comming after you for full payment of the balance of the mortgage. Ask those Artists, DJ's, Actors, Actresses, and Baseball players who have had tax problems with the IRS and States. If you owe tax to a foreign country, that debt should be settled (Tax Clearance) before your plane lands in that country's airportLet's start today!!

What we want from Artists & DJ's.

#1)If you are an Artist or DJ and you are planning a concert tour (for Tax Planning purposes and to save you millions of dollars in taxes) we want a copy of the contract that you signed with the record company/label and with each event promoter or booking agent that book your tour, including a copy of your tour schedule.

#2) If you are resolving a tax problem/dispute, in the USA or Overseas, we need a copy of the letter that you received from the IRS in the USA or the IRD in the foreign country.

 

What  More Do We Bring To The Table

In addition to those issues that we have discusses above, Are you planning to sign a new contract/record deal? How about a deal like this:-80% Royalty and 50% Publishing rights, in addition to keeping ownership of your masters? We work for clients who have those deals.

If you are a singer-songwriter and you perform your own original songs, how about an exclusive worldwide publishing deal that covers your full catalog/catalogue and future works? We work for clients who have those deals.

How about Royalty Auditing to ensure you have received every contractual distribution from record labels and publishing companies? How about valuation of recording/publishing catalog and catalog acquisition?

We are Lazer-focus. We bring decades of successful "Industry-specific" business experience, Practical insights, Strong work ethics, Integrity, and QuickEffective and Efficient business execution strategies to every area/niche in the entertainment industry (Music, Films, Fashion, and Culinary). We also have practical experiences in Real-Estate, Transportation and Insurance. We are current on issues that pertain to Federal and State Employment and Tax Compliance rules in those industries. Our clients have received exceptional results and peace-of-mind.  

Here is an E-mail we received: - "I've just signed with Columbia Records and I received an advance against my recording contract. Would you like to be my business manager?"

Reply to the E-mail: - Thanks for your Inquiry. We have received many similar offers. I would suggest that you signed to a Business Manager(Management Firm), and a Booking Agent/Agency. They have a Roster/list of Talent Buyers and Concert Promoters who will book your concert tours/shows at venues in the USA and Overseas. If you need me to get involve/participate, I can work independently and in tandem with your team. You will benefit tremendously from TWO of my specialties:-

1) Public Relations & Crisis Management:-The value of mainstream media exposure is priceless. While you are pumping-up the crowd your tour schedule will spread accross the world like wildfire. We will ensure that All marketing and press releases are effective and released ahead of time to adequately publicized each venue, keep fans camping outside the venue; and fill each venue to capacity. Ensure Sold Out concert held at each venue gets maximum media coverage and rave reviews before, during, and after each of your performances.
2)

Tax Accounting:- We will ensure strict budgetary controls and rigorous financial oversights during each event on the tour calendar, because we have heard Artists Complained that Venues/Shows were Sold-out; but they ended up almost BROKE. (A female Artist sued her Management Firm for Financial Mis-management and received a court settlement of $10 million. That is public information. It is in court dockets in Manhattan, New York).

Your income stream is a complexity of Royalties, Licensing, Intellectual Property and International earningsWe will ensure that your earnings from multiple income source/streams:- (music sales, concerts, merchandise, commercials, endorsements,  spokesperson, sponsorships, music publishing, Logo lease, book publishing & sales, speaking engagements, guest appearances, sound tracks, ringtones, voice-overs, jingles, modelling, acting, etc.) from the USA and Overseas are received and are properly accounted for; and are in the appropriate bank accounts (local bank, overseas/offshore bank). We will monitor your investments performances because many Artists and Band Members have lost almost everything to stock-market scammers. We will prepare a personal and business tax plan that will save you millions of dollars. Tax returns will be filed in a timely manner and in accordance with U.S. and International tax rules/treaties (International Taxation).

Our Privacy, Confidentiality, and Ethics rules/policy:- You will NEVER get stuck in a contract with us. You can terminate your agreement with us ANYTIME. We have seen how peer pressure has affected Artists; so we care about your wellbeing in the industry. We do not disclose non-public personal information about our clients to anybody, except as permitted by law, through a power of attorney signed by our clients; or a court order directing us to make disclosure. We are strictly business. We don't need Cheap Publicity; and we don't get involved in Street Drama and Conflict of Interest. Those things CAN'T bring us MONEY. Every new client goes through a verification/suitability check even when our trusted advisors recommend them us. Everybody is free to check us out before they do business with us (Proactive risk management).

We are transparent (above-board) and very specific; and we honor our obligations. Everything that we have done for our clients was discussed with them, and approved by them(written consent). They have taken our advice; and NONE of them have had to endure Financial or Tax nightmares, or file for Bankruptcy.

Fee:- Barry's Accounting Services, Corp. delivers superb service at an unbeatable price. We have THREE pricing/fee structures:-

#1)GIVE US CREDIT:- Don't pay us. Keep the money and give us credit on your new album that is ready to be released.

#2)FULL  PACKAGE:- The fee is 3% to 5%. This is a Flat Fee for each service that we provide. This is different and better than a 360 deal/agreement.

#3)TAXATION only:- The fee starts at $1,200.

We are very efficient and business savvy. NOBODY works harder than us to bring clients EXCEPTIONAL results/benefits, and Peace-of-Mind. You have a lot of work to get done. Call us and let's start today!!!

 

Overview

How I learn the Ins and Outs of the industry

#1)Studied Accounting & Taxation at NYU.

#2)Taken selective entertainment classes at Manhattan School of Music, and the University of Southern California. I have an ear for music. Upon release, I can tell almost instantly if a song/album will become a hit/monster:- (Concept, structurelyrical content, voice/vocals, clarity, instrumentals, pace, bars, chorus, punch lines, melody, hooks, bridges, drops,  beats, mix/remixes, volume, arrangement, timing, flow, sound, vibrancy/energy, etc).

#3)Taken California Baby Bar Exam (Contracts, Tort, and Criminal Law).

#4) Worked temporarily for A&M Records and Arista Records in the 1980's.

#5) IRS Enrolled Agent -1989 to present (Music and Film Tax Audits).

#6) I am a Tax Strategist and Consultant for entertainment giant.- USA and Europe Divisions(Name withheld, Confidentiality agreements).

How we know about Artists & DJ's:- Rolling Stone and Billboard Magazines subscriptions; YouTube; and promotional campaigns on Radio and TV in the USA and Overseas to publicized the release of their albums/singles and tour dates/bookings. We watch fans attendanceparticipation, and the energy in the venue/arena (stage presence, performances, and fans reactions).

How we obtain Artists & DJ clients:-Direct Mailing from our exclusive database; A&R; Business Managers; Entertainment Attorneys. Every new client goes through a verification check, even when our trusted contacts make recommendations to us. That's the key to identifying when we must refuse an opportunity(Proactive Risk Management).

We help each client pick/choose/select specific services that they need; and those services are included in a written contract that is signed by the client and us. Barry's Accounting Services, Corp. will honor its agreement as stipulated in the written contract with the artist/artist manager. Services we can provide the Artist or DJ are as follows:-  Design business strategies and articulate strategic plans that fit into aggressive marketing and public relations campaigns; ensure tours and release of your album is treated as priority; establish a corporation to manage business-related income, expenses, and investments in accordance with current bookkeeping/ accounting and tax rules; provide the artist/manager with clear weekly/monthly financial reports; review promoter's general/spectator liability insurance policy, event cancellation policy, artist non-appearance option; review contracts and modify exclusions, power of attorney, key man clause, sunset clause, back-end/front-end deals, guarantees (multiple shows, favorable routing, booking in other regions, etc.) and ensure that the artist receives adequate and timely payment from the record label, publishers, promoters, sponsors, and merchandisers, etc.; help the artist renegotiate/buyout of existing contract(s) ONLY if the artist request our involvement; budget and coordinate concert tours; communicate with booking agents, label A&R department, and sponsor's liaisons; review prenuptial agreements and divorce decrees for tax consequences before the artist signs them; prepare a personal financial/retirement plan for the artist; plan, purchase, manage, and sell business entities approved by the artist; connect artist to overseas promoters and foreign entertainment accounting firms if this service becomes necessary; audit (tour accounting, royalty, publishing and merchandising companies) and hold everybody accountable for the artist's money; prepare personal and corporation tax returns; assist artist with purchasing, renovating, insuring, leasing, and selling real estate, boats and planes; screen key employees and business associates, and coordinate special events on your behalf.

 

Click here for "Financial Planning & Wealth Management"

 

Income
1) Appearances (promotional, opening act, headliner, movies, and fashion.)
 
2) Tickets & VIP Packages (private parties, concerts, tours).
 
3) Ancillary/Residuals (studio rents, merchandise sales, endorsements/sponsorships, and advertisers.)
 
4) Royalties (record company, copyright infringement, music and book publishers, radio playlist, songwriting, film and movie soundtracks, etc.).


Non-Income
Charitable, goodwill, and public relations appearances.


General Expenses/Overhead
Support staff/entourage: Agent, managers, producers, coach, choreographers, security, secretary, chaperon, beautician, publicists, attorney, bookkeeper, accountant, master of ceremony/announcer, casting directors, photographers, technicians, musicians, and foreign and local promoters and distributors.

Related expenses: Baby-sitter, maids, chef, butler, and gardener/caretaker (Forms W2, household employees vs. independent contractors), advertising and promotion, printing, postage, stationery, charitable contributions, insurance (property, health, disability, medical, and long term care), medical expenses, bank charges, pension contributions, transportation (air, limousine, tour buses, trucks), taxes and permits (local and foreign), meals, lodging, costumes, studio fees, rehearsal space, hall/stadium rent, lodging while on tour, leases, depreciation deduction, organizational expenditures/deferred expenses, musical instruments and related accessories, equipment repairs, opening acts/artist, stage lighting and decorations, audition fees, portfolio and resume, professional/membership dues, telephone and answering service, electricity, health club, physical training/education, script preparation, dance lessons, voice training, casual labor/stage hands, co-writers, record producers, mixers, taste makers, remixers, hit makers, engineers, co-publishers, costumes, rehearsal clothing/props, tips backstage (dressers, doormen, porters, bell hops, etc.), theatre books, sheet music, scripts, score cards, the cost of attending plays, movies, and concerts to observe trends in your industry and to maintain and improve skills in your profession, celebration, and special events in accordance with industry norm.

 

The Scorpions
The Scorpions
 
Def Leppard
Def Leppard
Judas Priest
Judas Priest
 
Bonfire
Bonfire
Click here for "Billboard Magazine"
  Click here for "The Grammys"
  Click here for "Lollapalooza"
  Click here for "BET Stars"

Click here for "Entertainment Discussions"

Click here for "The Culinary Industry"

Click here for "The Sports Industry"

Click here to read "Music Blogs"